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Jamie's Pick: 09/07/11

Jamie's Pick: 09/07/11

2011-09-07 15:58:00
Jamie Saettele, CMT, Sr. Technical Strategist
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The USDCAD turn higher leaves the USDCAD decline from 10007 in 3 waves (with triangle wave b) so the next bull leg may be underway. An objective is the 100% extension of the rally from 9409, at 10325. This level is close to a pivot high from October 2010 at 10373. The impulsive rally from 9724 reinforces my bullish convictions. Additional support is 9815 if needed.

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